CITIC group has finally explicitly indicated the possibility of closing down the Sino-Iron Projects. During the interim performance report on August 29, the chairman of CITIC Limited Chang Zhenming stated for the first-time that any factors related to the Sino-Iron project threatens the survival of the project, and that the company will avoid the worst-case scenario, yet the risk of closing down indeed exists. This implies that the CITIC group is already prepared to "cut losses" to end the financial drainage once and for all as soon as they can.